Business
Proposed Listing on Australian Securities Exchange
Proposed Listing on Australian Securities Exchange.
About this update from Cleantech Lithium Plc
[{"type":"text","content":"\n \n \n \n 24 February 2023\n \n \n \n \n CleanTech Lithium PLC (\"CleanTech Lithium\" or the \"Company\")\n \n \n \n \n Proposed Listing on Australian Securities Exchange (ASX):\n \n \n \n \n Appointment of Canaccord Genuity (Australia) and Fox-Davies Capital as Joint Lead Managers\n \n \n \n \n \n \n \n \n CleanTech Lithium PLC (AIM:CTL, Frankfurt:T2N, OTC:\n CTLHF)\n , an exploration and development company\n advancing the next generation of sustainable lithium projects in Chile, announces its intention to pursue a listing on the official list of the\n Australian Securities Exchange (\"ASX\").\n \n \n Canaccord Genuity (Australia) Limited (\"Canaccord\") and Fox-Davies Capital Limited (Fox-Davies\") have been appointed as Joint Lead Managers and, subject to the relevant approvals and regulatory processes, it is anticipated that trading on ASX may be achieved by Q3 2023. \n \n \n Highlights:\n \n \n The Board has examined the merits of an ASX listing over the past few months and has held discussions with a number of its major shareholders and other parties in this regard; this has also included two visits to Australia by the Company's CEO, Aldo Boitano, supported by Fox Davies and Canaccord. \n \n \n The Board has concluded that there will be real benefits for the Company and its shareholders to move forward with a listing on ASX for the following reasons:\n \n \n ·\n Approximately 31% of the Company's current share register is either based in Australia or has some other link to the country and the Company was strongly encouraged to list on this exchange as soon as possible by those shareholders who were canvassed on this;\n \n \n ·\n During previous investor meetings in Australia, various funds and financial institutions indicated a wish to invest in the Company but were restricted from doing so as the Company was not listed on ASX, they also encouraged the Company to list on ASX as soon as possible; \n \n \n ·\n It would bring the Company's Laguna Verde, Francisco Basin and Llamara projects in Chile to the attention of a robust resources market where lithium exploration companies have attracted considerable investor interest;\n \n \n ·\n Admission to the ASX is expected to further extend CleanTech Lithium's shareholder base, enable wider trading of CleanTech Lithium shares and provide...